These 5 cryptocurrencies may continue to surprise to the upside
These 5 cryptocurrencies may continue to surprise to the upside Bitcoin, ETH, BNB, STX, and IMX remain strong on the charts, increasing the likelihood of more gains in the near…
Ethereum is a decentralized open-source blockchain system that features its own cryptocurrency, Ether. ETH works as a platform for numerous other cryptocurrencies, as well as for the execution of decentralized smart contracts.
Ethereum was first described in a 2013 whitepaper by Vitalik Buterin. Buterin, along with other co-founders, secured funding for the project in an online public crowd sale in the summer of 2014. The project team managed to raise $18.3 million in Bitcoin, and Ethereum’s price in the Initial Coin Offering (ICO) was $0.311, with over 60 million Ether sold. Taking Ethereum’s price now, this puts the return on investment (ROI) at an annualized rate of over 270%, essentially almost quadrupling your investment every year since the summer of 2014.
The Ethereum Foundation officially launched the blockchain on July 30, 2015, under the prototype codenamed “Frontier.” Since then, there has been several network updates — “Constantinople” on Feb. 28, 2019, “Istanbul” on Dec. 8, 2019, “Muir Glacier” on Jan. 2, 2020, “Berlin” on April 14, 2021, and most recently on Aug. 5, 2021, the “London” hard fork.
Ethereum’s own purported goal is to become a global platform for decentralized applications, allowing users from all over the world to write and run software that is resistant to censorship, downtime and fraud.
Ethereum has a total of eight co-founders — an unusually large number for a crypto project. They first met on June 7, 2014, in Zug, Switzerland.
Among the other co-founders of Ethereum are: – Anthony Di Iorio, who underwrote the project during its early stage of development. – Charles Hoskinson, who played the principal role in establishing the Swiss-based Ethereum Foundation and its legal framework. – Mihai Alisie, who provided assistance in establishing the Ethereum Foundation. – Joseph Lubin, a Canadian entrepreneur, who, like Di Iorio, has helped fund Ethereum during its early days, and later founded an incubator for startups based on ETH called ConsenSys. – Amir Chetrit, who helped co-found Ethereum but stepped away from it early into the development.
Ethereum has pioneered the concept of a blockchain smart contract platform. Smart contracts are computer programs that automatically execute the actions necessary to fulfill an agreement between several parties on the internet. They were designed to reduce the need for trusted intermediates between contractors, thus reducing transaction costs while also increasing transaction reliability.
Ethereum’s principal innovation was designing a platform that allowed it to execute smart contracts using the blockchain, which further reinforces the already existing benefits of smart contract technology. Ethereum’s blockchain was designed, according to co-founder Gavin Wood, as a sort of “one computer for the entire planet,” theoretically able to make any program more robust, censorship-resistant and less prone to fraud by running it on a globally distributed network of public nodes.
In addition to smart contracts, Ethereum’s blockchain is able to host other cryptocurrencies, called “tokens,” through the use of its ERC-20 compatibility standard. In fact, this has been the most common use for the ETH platform so far: to date, more than 280,000 ERC-20-compliant tokens have been launched. Over 40 of these make the top-100 cryptocurrencies by market capitalization, for example, USDT, LINK and BNB. Since the emergence of Play2Earn games, there has been a substantial increase in interest in the ETH to PHP price
These 5 cryptocurrencies may continue to surprise to the upside Bitcoin, ETH, BNB, STX, and IMX remain strong on the charts, increasing the likelihood of more gains in the near…
SBF legal fees, BTC market cap flips Meta and USDC climbs back to $1: Hodler’s Digest, March 12-18 Sam Bankman-Fried seeks to use FTX’s corporate insurance, Bitcoin outperforming Wall Street…
Price analysis 3/17: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, SOL, DOT, SHIB Bitcoin has risen above $25,000, and if bulls flip this level into support during the next pullback,…
Chinese billionaire’s $1B fraud charges, Kwon’s $11M bet, Zhu Su and Islam: Asia Express Chinese billionaire using crypto to fight communism charged over $1 billion fraud, Do Kwon’s $11M bet…
ETHDenver 2023: Cointelegraph afterparty delivers a ‘packed house’ and other notable events Cointelegraph’s Turner Wright and Rudy Takala discussed the recent events at ETHDenver on the Decentralize with Cointelegraph podcast.…
Euler attack causes locked tokens, losses in 11 DeFi protocols, including Balancer On March 8, Euler had over $311 million in crypto locked inside its smart contracts. Its total value…
Silicon Valley Bank down, USDC depegged, FTX billed $34M in Jan.: Hodler’s Digest, March 5-11 Bank run on Silicon Valley Bank, USDC depegged from U.S. dollar and FTX’s bankruptcy expenses…
Ethereum Shanghai upgrade could benefit liquid staking providers and cement ETH’s layer-1 dominance Ethereum’s Shanghai upgrade is set to unlock a trove of staked Ether and possibly benefit other staking…
Thailand’s $1B crypto sacrifice, Mt Gox final deadline, Tencent NFT app nixed: Asia Express South Korea is throwing another $51 million at the metaverse, Mt. Gox saga is drawing to…
Ethereum price action and derivatives data confirm bears are currently in control Investors are unwilling to add long positions, as the Shanghai fork is expected to unlock a significant amount…